Vinva Investment Management Ltd Boosts Stock Holdings in Pure Storage, Inc. $PSTG

Vinva Investment Management Ltd grew its position in Pure Storage, Inc. (NYSE:PSTG) by 206.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,840 shares of the technology company’s stock after purchasing an additional 18,753 shares during the period. Vinva Investment Management Ltd’s holdings in Pure Storage were worth $1,542,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mechanics Financial Corp purchased a new stake in Pure Storage in the 2nd quarter valued at about $25,000. True Wealth Design LLC grew its holdings in shares of Pure Storage by 402.8% in the second quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock valued at $32,000 after acquiring an additional 439 shares in the last quarter. SouthState Corp increased its position in shares of Pure Storage by 474.8% during the second quarter. SouthState Corp now owns 592 shares of the technology company’s stock valued at $34,000 after acquiring an additional 489 shares during the last quarter. REAP Financial Group LLC lifted its holdings in Pure Storage by 49.0% during the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock worth $35,000 after acquiring an additional 201 shares during the period. Finally, Ramirez Asset Management Inc. boosted its position in Pure Storage by 40.0% in the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 200 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Stock Up 3.9%

NYSE PSTG opened at $89.10 on Friday. The firm has a market cap of $29.28 billion, a P/E ratio of 217.31, a price-to-earnings-growth ratio of 8.99 and a beta of 1.24. The company’s 50 day moving average is $89.07 and its 200-day moving average is $70.59. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The business had revenue of $763.77 million during the quarter. Equities analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PSTG shares. Northland Securities raised their target price on Pure Storage from $63.00 to $71.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Piper Sandler set a $92.00 price objective on shares of Pure Storage and gave the stock an “overweight” rating in a report on Thursday, September 25th. Raymond James Financial boosted their target price on shares of Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a research report on Wednesday, October 8th. Finally, Oppenheimer assumed coverage on shares of Pure Storage in a report on Monday, November 17th. They issued an “outperform” rating and a $120.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $92.61.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $91.59, for a total transaction of $9,159,000.00. Following the sale, the insider directly owned 100,000 shares in the company, valued at approximately $9,159,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mona Chu sold 17,500 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total value of $1,338,925.00. Following the completion of the transaction, the chief accounting officer owned 138,899 shares of the company’s stock, valued at approximately $10,627,162.49. This represents a 11.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 347,811 shares of company stock valued at $31,067,815 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.

About Pure Storage

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.